The firm has expanded from 10 to 23 homes

A Yorkshire-based provider of therapeutic residential care for children and young people has significantly expanded its footprint in England through a major acquisition.

Park Blue Homes, which operates homes in Doncaster and Sheffield, has bought Flourish Care Holdings, which operates 10 small and family-friendly homes in the Midlands and South West.

The acquisition sees Park Blue, headquartered in Harrogate, North Yorkshire, now operating 23 homes.

Starting in Gloucestershire in 2017, Flourish offers support in Ofsted-registered homes for children and young people with learning disabilities and associated complex needs, including trauma.

The family-owned provider, which has its registered office in Gloucester, works in partnership with local authority teams, families and health professionals, with all homes rated Outstanding or Good with Ofsted.

Park Blue began operating its first children’s home 14 years ago, and now employs nearly 200 staff.

With therapeutic residential care homes from the North East to the South West, the company is owned by Richard Parker and Ruth Parker-Pollard.

Park Blue operates homes in South Yorkshire, including the Doncaster and Sheffield areas, as well as Newcastle, Sunderland and Bishop Auckland in the North East and, in the South West, Swindon, Chippenham and Bath.

Corporate finance advisers at Azets, a UK top 10 accountancy and business advisory firm, acted for Park Blue.

Tariq Javaid, a Leeds-based corporate finance partner at Azets, led the transaction, supported by Adam Mulla, a corporate finance manager, and Josh Wright, a corporate finance executive.

Financial and tax due diligence was undertaken by Azets’ Graham Dotchin, a corporate finance partner, supported by Jamie Hepworth, a corporate finance manager, and Leigh Davenport, a tax partner.

Tariq said: “Park Blue is built around providing safe homes and nurturing environments for children, with Flourish matching those same values, including emotional and educational support, structured around a therapeutic care model.

“There are clearly strong synergies between Park Blue and Flourish, hence the deal, and it has been a privilege for Azets to advise our client through the acquisition.”

Richard said: “We have been looking to increase our therapeutic residential care provision across England, with Flourish sharing the same values, professionalism and commitment to supporting children and young people who have experienced trauma, abuse or other complex life circumstances.

“We are grateful to the Azets team for ensuring the transaction was a smooth one, completed to the satisfaction of all parties.”

Flourish Care Holdings was acquired for an undisclosed sum.